Answer:
C. eat more pizza and spend less on pizza than he did before the price decrease.
Explanation:
The inelastic means that when the elasticity is less than one
Since the demand for pizza is inelastic and the price of pizza decreases that would result in an increase in the quantity demanded of pizza.
Though the price of pizza decreases, the Pablo spend less than before as the price and the quantity demanded has an inverse relationship.
Interest rate and years of repayment
Answer and Explanation:
The Journal entries are as follows:
On January 1
Petty cash Dr. $140
To cash $140
(Being the petty cash fund is recorded)
On January 8
Postage expense Dr. $47
Merchandise inventory Dr. $12
Delivery expense Dr. $14
Miscellaneous expenses Dr. $36
To Cash $109
(Being the reimbursement of the petty cash fund is recorded)
On January 8
Petty cash Dr. $450
To cash $450
(being the increase in petty cash fund is recorded)
Only these three entries are recorded
Answer:
Explanation:
Sole proprietor: The sole proprietor is the owner of the company which runs the business individually without involving any other member.
Limited liability Company (LLC): The LLC is the company which has limited liability towards everything like - business expenses, obligations, etc.
The difference between these two is as follows:
1. Liability: The sole proprietor has unlimited liability whereas the LLC has limited liability
2. Ownership control: In the sole proprietorship, the single owner is there who is responsible for all the things but in the LLC it includes various employees, members, outsiders who are responsible for their task and control the business activities together.
3. The Number of owners: In a sole proprietorship, only one owner is there but in LLC, many owners can be there.
4. Existence of the entities: If the business owner dies than the proprietorship is not in existence whereas in the LLC the company is in existence whether someone dies or not because other peoples are there to take their position.
